Rep. Debbie Wasserman Schultz Purchases Shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN)

Representative Debbie Wasserman Schultz (D-Florida) recently bought shares of Patterson-UTI Energy, Inc. (NASDAQ:PTEN). In a filing disclosed on November 20th, the Representative disclosed that they had bought between $1,001 and $15,000 in Patterson-UTI Energy stock on October 23rd.

Representative Debbie Wasserman Schultz also recently made the following trade(s):

• Sold $1,001 – $15,000 in shares of New Gold (NYSE:NGD) on 11/18/2024.
• Purchased $1,001 – $15,000 in shares of Baxter International (NYSE:BAX) on 11/18/2024.
• Purchased $1,001 – $15,000 in shares of Viasat (NASDAQ:VSAT) on 10/23/2024.

Patterson-UTI Energy Price Performance

Shares of NASDAQ PTEN opened at $8.36 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.32 and a current ratio of 1.52. Patterson-UTI Energy, Inc. has a fifty-two week low of $7.38 and a fifty-two week high of $12.65. The stock’s 50-day simple moving average is $8.09 and its 200-day simple moving average is $9.30. The firm has a market capitalization of $3.26 billion, a PE ratio of -3.82 and a beta of 2.12.

Patterson-UTI Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Monday, December 2nd will be paid a $0.08 dividend. This represents a $0.32 annualized dividend and a dividend yield of 3.83%. The ex-dividend date is Monday, December 2nd. Patterson-UTI Energy’s payout ratio is presently -14.61%.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Barclays lowered their price target on Patterson-UTI Energy from $14.00 to $12.00 and set an “overweight” rating for the company in a report on Wednesday, October 16th. Susquehanna dropped their target price on Patterson-UTI Energy from $13.00 to $10.00 and set a “positive” rating on the stock in a research report on Friday, October 11th. ATB Capital decreased their price target on Patterson-UTI Energy from $12.00 to $11.00 and set an “outperform” rating for the company in a research note on Wednesday, September 4th. StockNews.com downgraded Patterson-UTI Energy from a “hold” rating to a “sell” rating in a research note on Saturday, October 12th. Finally, Stifel Nicolaus reduced their price objective on Patterson-UTI Energy from $15.00 to $14.00 and set a “buy” rating for the company in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $11.88.

Institutional Trading of Patterson-UTI Energy

A number of large investors have recently bought and sold shares of PTEN. Hexagon Capital Partners LLC boosted its stake in Patterson-UTI Energy by 119.5% in the 2nd quarter. Hexagon Capital Partners LLC now owns 2,401 shares of the oil and gas company’s stock worth $25,000 after buying an additional 1,307 shares during the last quarter. Massmutual Trust Co. FSB ADV increased its holdings in shares of Patterson-UTI Energy by 250.4% in the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 4,320 shares of the oil and gas company’s stock worth $33,000 after acquiring an additional 3,087 shares during the period. Covestor Ltd increased its holdings in shares of Patterson-UTI Energy by 92.4% during the third quarter. Covestor Ltd now owns 6,885 shares of the oil and gas company’s stock valued at $53,000 after purchasing an additional 3,307 shares during the period. CWM LLC boosted its stake in Patterson-UTI Energy by 49.9% during the second quarter. CWM LLC now owns 6,043 shares of the oil and gas company’s stock valued at $63,000 after buying an additional 2,012 shares in the last quarter. Finally, Blue Trust Inc. raised its position in Patterson-UTI Energy by 25.0% in the third quarter. Blue Trust Inc. now owns 9,498 shares of the oil and gas company’s stock worth $73,000 after acquiring an additional 1,901 shares in the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

About Representative Wasserman Schultz

Debbie Wasserman Schultz (Democratic Party) is a member of the U.S. House, representing Florida’s 25th Congressional District. She assumed office on January 3, 2023. Her current term ends on January 3, 2025. Wasserman Schultz (Democratic Party) is running for re-election to the U.S. House to represent Florida’s 25th Congressional District. She declared candidacy for the Democratic primary scheduled on August 20, 2024. Wasserman Schultz was first elected to the U.S. House in 2004 from District 20. She previously represented District 34 of the Florida State Senate from 2003 to 2004, District 32 of the Florida State Senate from 2001 to 2003, and District 97 of the Florida House of Representatives from 1993 to 2001. She served as one of the Chief Deputy Whips of the Democratic caucus for the 113th Congress. She also served as the chair of the Democratic National Committee. On July 24, 2016, Wasserman Schultz announced that she would resign her leadership position at the end of the party’s convention. Wasserman Schultz was considered a possible candidate in 2016 for U.S. Senate. However, she announced on March 17, 2015, that she would not seek the Senate seat and would instead run for re-election to the House. Debbie Wasserman Schultz was born in Forest Hills, New York. Wasserman Schultz graduated from Half Hollow Hills High School East in 1984. She earned a B.A. and M.A. from the University of Florida in 1988 and 1990, respectively. Wasserman Schultz’s career experience includes working as a staffer to former U.S. Representative Peter Deutsch.

About Patterson-UTI Energy

Patterson-UTI Energy, Inc, through its subsidiaries, engages in the provision of contract drilling services to oil and natural gas operators in the United States and internationally. It operates through three segments: Drilling Services, Completion Services, and Drilling Products. The Contract Drilling Services segment provides contract and directional drilling services in onshore oil and natural gas basins, as well as engages in the service and re-certification of equipment for drilling contractors, and provision of electrical controls and automation to the energy, marine and mining industries.